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Updated over 9 years ago on . Most recent reply

Jasmine Wilkes's profile image
Jasmine Wilkes's profile image
Jasmine Wilkes
  • Investor
  • from grand prairie / st.louis, texas/ Missouri
  • Member since Apr 11, 2014
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Jasmine Wilkes's profile image
Jasmine Wilkes's profile image
Jasmine Wilkes
  • Investor
  • from grand prairie / st.louis, texas/ Missouri
  • Member since Apr 11, 2014
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Jasmine Wilkes
  • Investor
  • grand prairie / st.louis, texas/ Missouri
19
Votes |
168
Posts
Tax, SDIRAs & Cost Segregation

federal taxes

Jasmine Wilkes
  • Investor
  • grand prairie / st.louis, texas/ Missouri
Posted

I just started my llc October of this year through the state of texas. if I don't receive any funds this year or do a deal this year do I have to file taxes? ive spent money on starting the company and filing and marketing plus gas for driving around.

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Rodney Henson's profile image
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Rodney Henson
  • Residential Real Estate Broker
  • from Sponsoring Real Estate Broker, Dallas, Texas
  • Member since Dec 12, 2014
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Rodney Henson's profile image
Rodney Henson's profile image
Rodney Henson
  • Residential Real Estate Broker
  • from Sponsoring Real Estate Broker, Dallas, Texas
  • Member since Dec 12, 2014
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Rodney Henson
  • Residential Real Estate Broker
  • Sponsoring Real Estate Broker, Dallas, TX
8
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47
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Rodney Henson
  • Residential Real Estate Broker
  • Sponsoring Real Estate Broker, Dallas, TX
Replied

If you are the only owner of the LLC then you will show your u LLC on schedule C with no income but you may already have some expenses to deduct there which would create a loss to use to offset your other income.

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